MujkanovicFX

MujkanovicFX

Hi traders, here's an update on the EUR/USD pair. Please hit the "LIKE" button to support our free work. Thanks! Please bear in mind that we don't enter any trade until all rules of our trading strategy are fulfilled. TECHNICALS: From a technical standpoint, the EUR/USD pair has been in a medium-term uptrend since May and has recently entered a consolidation...

MujkanovicFX

TECHNICALS: USDCHF is trading near an important daily horizontal resistance that aligns with the 61.8% Fib level, signaling a possible continuation of the underlying downtrend. POSITIONING: Bullish positioning in the CHF increased among all CoT categories except non-commericals (only a small decrease there), giving the CHF a bullish ranking of 8 /10. The US...

MujkanovicFX

Hi traders, TECHNICALS: As expected, the EUR/USD pair found support around the 1.12 level after which the pair formed two strong bullish candles, signaling more upside potential. SUPPORT 1: 1.1280 SUPPORT 2: 12.20 RESISTANCE 1: 1.1345 RESISTANCE 2: 1.1400 INTEREST RATES: 2-year yield differentials are also pointing higher at the moment, supporting a...

MujkanovicFX

Hi traders, Brent crude continued its bull run as countries around the world ease lockdown restrictions and shows signs of economic recovery. Oil is trading in a strong uptrend, with a break above $42 signaling further upside potential and the formation of a new impulsive move. The recent pullbacks on the 1-hour chart also provided buying opportunities. A...

MujkanovicFX

Hi traders, here's a quick overview of the EUR/USD pair. TECHNICALS: The EUR/USD pair had difficulties to break above the 1.14 level and entered into a correction phase, forming fresh Lower Lows and Lower Highs. The 1-hour chart suggests that a retest of 1.12 is possible, after which the pair could continue in the direction of the medium-term uptrend. ...

MujkanovicFX

Hi traders, here's a quick overview of the USD/CHF pair. TECHNICALS: USD/CHF entered a well-defined medium-term downtrend, and completed a pullback to a resistance level at 0.9550, where buyers had difficulties to push above. The current levels may provide a selling opportunity, as the 1-hour chart shows a bearish structure in its formation. POSITIONING:...

MujkanovicFX

Hi traders, Here's a possible sell opportunity in NZD/CAD. The pair has been in a nice downtrend for a longer period now, and is currently trading at a major resistance level near the 0.88 round-number. The resistance also aligns with the 61.8% Fib level. Positioning data and recovering oil prices support a sell as well. Here's a chart of current 2y yield...

MujkanovicFX Updated 

Hi traders, Here's a quick overview of the main reasons why the S&P500 could enter a one-way street in the coming months. Any comments are appreciated. Thanks. 1. The index is less than 5% away from record highs, yet US unemployment rates are sky-rocketing, the country has officially entered a recession, and other regions will likely follow. Global growth...

MujkanovicFX

Hi traders, Here's the EUR/AUD pair which possibly signals a massive trend reversal and a buying opportunity. As usual, we don't take any trades unless all rules of our trading strategy align. TECHNICALS : The pair has been in a nice downtrend since March, forming fresh LLs and LHs until it reached the 1.61 support, which aligns both with a horizontal support...

MujkanovicFX

TECHNICALS: The GBP/USD pair failed to break above the 1.28 resistance and started to print a massive bearish candle on the daily chart. The 1-hour chart is even more interesting, as it shows a break below a well-defined rising channel and a pullback to that level, which has been rejected immediately. My traders and I are short on the pair since this...

MujkanovicFX

Hi traders, here we have the EUR/USD pair which faced some selling pressure this morning. Let's see what's next for the market. TECHNICALS: The lower 1.14xx levels look like an important upside barrier at the moment. This can also be seen on the 1-hour chart, where the RSI is forming a bearish divergence in the short-term. The strong selling pressure building up...

MujkanovicFX Updated 

The EURUSD pair has arguably been the highlight in the FX G10 market in the recent days. Printing its 9th bullish day, it looks like there's nothing to stop the pair reaching 1.14, followed by 1.1450, where sellers could finally decide to join the market again. However, current levels don't provide an attractive entry point in term of risk/reward. A pullback to...

MujkanovicFX Updated 

Hi traders, the GBP/USD pair is a pair we're watching this week. Please note that we don't take any trades unless all rules of our trading strategy align. TECHNICALS: The price formed a fresh HH and is on the way to close an inside candle today, which could possibly provide a buying opportunity. The 1-hour chart shows a well-defined uptrend as well. FLOWS:...

MujkanovicFX Updated 

Here's an overview of the USD/CHF pair. We shorted the pair in the lower 0.96xx levels, locked in part of the profits at today's lows, and continue to hold the remaining position. TECHNICALS: USD/CHF broke below a triangle pattern and completed a pullback to a horizontal resistance level, where sellers joined the market this morning. The triangle pattern...

MujkanovicFX

The GBP/USD pair trades near an important resistance at the 1.26 level, where bulls seem to have difficulties to push above. The level aligns with a strong horizontal resistance that dates back to April 14th. The pound also reversed today's losses, forming a bearish candlestick pattern that could push the price lower in the coming period. Whether the pair will...

MujkanovicFX

Note: Our previous idea on Gold reached the $1,745 resistance, which was a nice level to close the trade. Gold reversed some of yesterday's losses after finding support at a rising trendline and a horizontal support zone on the daily chart. It's important to note that the recent uptrend is losing steam, with the fresh lower high formed on the daily. Any USD...

MujkanovicFX

Hi traders, the USDJPY pair broke above a major resistance, so we're looking for a pullback to the broken resistance before further strength. CORRELATIONS: The pair followed the NI225 index nicely, but 2y yields are failing to provide support to the upside, signaling an upcoming reversal. The USDx is falling for the sixth straight day. Another bearish day,...

MujkanovicFX Updated 

Please hit the like button to support our ideas in the future. Thanks! TECHNICALS: The pair is completing a pullback to the broken wedge pattern which aligns with a recent resistance level, effectively forming a double top pattern. The 1.08 round-number level also provides a nice resistance to the upside. 1-hour chart: Signs of overbought conditions with strong...